US specialty retailer Zumiez May-July sales expand to $269 mn

Zumiez, a US-based leading specialty retailer of apparel, footwear and accessories, has reported a 7.3 per cent sales growth to $268.7 million in the second quarter (Q2) of FY21 ended on July 31, 2021, against the corresponding period of previous fiscal. The company’s operating profit during the quarter slightly dipped to $31.9 million (Q2 FY20: $33.1 million).

 

Zumiez, a US-based specialty retailer of apparel, footwear and accessories, has reported a 7.3 per cent sales growth to $268.7 million in the second quarter (Q2) of FY21 ended on July 31, 2021, against the corresponding period of previous fiscal. The company's operating profit during the quarter slightly dipped to $31.9 million (Q2 FY20: $33.1 million).#

“Our second quarter performance reflects the sustained success our business has experienced over the past several years. After driving solid growth as we reopened our stores in the second quarter of last year, our teams once again did a terrific job adapting to the current environment to fulfill robust demand for our distinct merchandise offering,” Rick Brooks, chief executive officer of Zumiez, said in a press release.

 

Zumiez, a US-based specialty retailer of apparel, footwear and accessories, has reported a 7.3 per cent sales growth to $268.7 million in the second quarter (Q2) of FY21 ended on July 31, 2021, against the corresponding period of previous fiscal. The company's operating profit during the quarter slightly dipped to $31.9 million (Q2 FY20: $33.1 million).#

Gross profit during Q2 of FY21 increased to $104.9 million ($90.8 million), while selling, general and administrative expenses were $73.0 million ($57.7 million). The American retailer’s net income slipped to $24.0 million ($25.4 million).

 

Zumiez, a US-based specialty retailer of apparel, footwear and accessories, has reported a 7.3 per cent sales growth to $268.7 million in the second quarter (Q2) of FY21 ended on July 31, 2021, against the corresponding period of previous fiscal. The company's operating profit during the quarter slightly dipped to $31.9 million (Q2 FY20: $33.1 million).#

“The third quarter has started off well driven by a more normalised back to school shopping season, and while operating conditions remain volatile, we believe the flexibility of our business model provides us with key competitive advantages that we can leverage to maintain our positive momentum heading into the holidays. With our strong balance sheet and differentiated strategies, we are well positioned to add to our global market share and return increased value to our shareholders over the long-term,” Brooks concluded.